Bitcoin pushed above $7,500 on Monday as the largest cryptocurrency resumed an advance that has carried it to the highest in two months.
The digital token jumped as much as 5.8 per cent to $7,703.51 at 10:44am in London, according to composite prices compiled by Bloomberg. Bitcoin again outperformed most of its closest peers, as it did for much of last week, though Ripple, Ethereum and Litecoin also all rose. The MVIS CryptoCompare Digital Assets 10 index climbed 0.5 per cent.
Bitcoin had a torrid time in the two months through mid-July, under pressure from largely negative news flow that included more hackings and tougher regulatory moves. However the cryptocurrency has now spent a full week above its 50-day moving average, according to Bitstamp pricing. On Monday it also pierced the 100-day moving average.
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Read more:
Bitcoin growth could break internet, BIS warns
Bitcoin's 2018 crash stokes fears of a Dot-Com like meltdown
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Traders may be taking heart from the Group of 20 nations’ decision to only reiterate that crypto-assets lack attributes of sovereign currencies, without providing much detail on how member states should regulate them. They said crypto-assets “do not at this point pose a global financial-stability risk”, while asking an inter-government panel that combats money-laundering to “clarify in October 2018 how its standards apply to crypto-assets”.
The entire market value of more than 1,600 cryptos tracked by Coinmarketcap.com is $287 billion, no bigger than the market cap of financial-payments company Visa.
COMPANY%20PROFILE
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
COMPANY PROFILE
Name: N2 Technology
Founded: 2018
Based: Dubai, UAE
Sector: Startups
Size: 14
Funding: $1.7m from HNIs
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Ferrari
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Mountain%20Boy
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The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
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